KeyStoneB2B and DocMagic have partnered to provide compliant loan document preparation, regulatory compliance and comprehensive eMortgage services through KeyStone’s platform, the companies announced.
The partnership will enable mortgage lenders and settlement service agents using KeyStoneB2B’s platform to connect to DocMagic’s SmartCLOSE.
“Loan information changes on a moment to moment basis, and without a central system of record, lender compliance relies on multiple parties involved in the transaction, and their ability to proactively connect with each other to reconcile data, fees and information,” DocMagic CEO Dominic Iannitti said in a release. “With the amount of detail and the number of people involved, it’s almost impossible to achieve completely accurate and consistent information unless there’s a single system of record.”
SmartCLOSE provides synchronized collaborative workflow, real-time chat and instant messaging, continuous compliance and TRID tolerance monitoring, automated event and audit logging, and bi-directional integration with leading loan origination systems. It also integrates eDelivery of borrower disclosures, and facilitates certified MISMO 3.3 compliant XML data and document exchange.
“Now that our lender customers have seamless access to SmartCLOSE, they and their settlement service providers can establish an accurate, always-updated single system of record, which will save them a lot of time and prevent a lot of potentially costly errors and inconsistencies,” said James V. Luisi, chief information officer and chief technology officer for KeyStoneB2B. “Plus, they benefit from a host of other features, not the least of which is compliance with the GSEs’ UCD mandate prior to its June deadline.”